Chazz Hoskinson wants to develop new technology standards for ADA crypto wallet

Cardano founder Chazz Hoskinson shared new ideas aimed at improving blockchain technology with the viewers of his video blog. Hoskinson said that he shares the Cardano community’s vision of the need to develop standards for an ADA-certified wallet. According to the businessman, it is time for market players to get rid of the initial understanding of what a cryptocurrency wallet is.

Instead, Hoskinson proposes to develop reference standards that will guide developers in the release of ADA-certified crypto wallets: «We propose to completely get rid of the concept of official crypto wallets and introduce the concept of a certified wallet. Unified certification standards will allow developers to set functional requirements, including benchmarking and measuring user experience. It would be great to create several protocols to make everything work faster.»

It is worth noting that Cardano is currently experiencing significant growth, as evidenced by the increase in the number of ADA wallets. According to media reports, in the middle of the third quarter of 2022, ADA wallets hold $ 3.5 million in digital assets.

Recently, Cardano founder Chalz Hoskinson started a discussion on Twitter about the appropriateness of the moment when Ethereum switched to PoS. Hoskinson stated that back in 2014, he proposed innovative ideas for technical updates to the Ethereum network, but no one listened to him, and Hoskinson himself was eventually fired from the Ethereum Foundation. Earlier, on September 23, a historic update on the Cardano blockchain took place. «Hardfork Vasil has expanded the capabilities of Cardano smart contracts with Plutus V2 scripts and sales models. The update will reduce the cost of script execution and transaction size, as well as increase throughput,» said Frederik Groegaard, chairman of the Cardano Foundation.